McMaster welcomes federal support for research, innovation and fostering Canadian talent in Budget 2024 

McMaster University welcomes measures in Tuesday’s federal budget that acknowledge the vital role universities play as engines of innovation, economic growth and meaningful progress in the face of global challenges, as well as an incubator for a new generation of talent and leadership in Canada. 

The budget, announced by Finance Minister Chrystia Freeland, includes an investment of more than $3 billion over the next five years in Canada’s research ecosystem, a welcome and much-needed boost for innovation and the knowledge economy.  

“We welcome the significant funding increases outlined in the federal budget,” says McMaster President David Farrar.  

“This much-needed funding will be pivotal in accelerating our world-class research programs, and to supporting the students and early career researchers who are driving the next generation of scholarship, discovery and innovation.” 

Newly announced funding will provide a significant increase to the core budgets of the three federal research granting agencies, as well as an increase to federally funded scholarships and fellowships, and more support for graduate, doctoral and postdoctoral researchers. 

Investments in AI computing capacity and major research facilities also indicate an ongoing commitment to research and fostering the full potential of promising early-career scholars and researchers. 

As a member of the Coalition for Canadian Research, McMaster welcomes the support for initiatives that attract investment in emerging technologies, backing talented Canadians with the funding they need to advance their ideas and pursue new knowledge.